Funding you earn now, next payment 07:00 UTC−0.0383%/8h= −41.9% APRpaid last 24h −0.018%
Price spread now: Bitget against Paragon+0.085%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$950.950% of the position
Funding, last 7 days−0.081%−$8 on $10k
+Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.085%, 7d avg −0.035%
=The price spread pays, funding is against you. Bitget is 0.120% dearer against Paragon than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of −0.035%): +$12 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.081% in total) that is about 10 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.081% in total (about -4.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:IREN | 46.818 | 0.0060 | pay 0.0008% / 1h | 51m 34s | $602K | $182K | 10x |
| Short | Bitget IRENUSDT | 46.858 | −0.0323 | pay 0.0323% / 8h | 1h 51m | $2.1M | $524K | 20x |
Paragon para:IREN
Bitget IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$80.43
- Price spread: +0.085% → −0.035%
- $11.99
- Slippage, 4 orders
- −$73.03
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$163.47
- Costs to cover
- 0.950%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 14 min ago; Bitget: live order book, just now.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Paragon live order book, 14 min ago | 21.29 bp | 26.8 bp −$27 | 44.0 bp −$440 | doesn't fit | doesn't fit |
| Sell Bitget live order book, just now | 2.56 bp | 25.7 bp −$26 | 38.6 bp −$386 | doesn't fit | doesn't fit |
IREN on 18 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDTshort | −0.0323% | 8h | 46.858 | +0.085% | $2.1M | $524K | 20x | |
| Vest IREN-USD-PERP | −0.0007% | 1h | 46.770 | −0.103% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.886 | +0.144% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.867 | +0.104% | $3.4M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.840 | +0.046% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.890 | +0.153% | $625K | $688K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.880 | +0.132% | $720K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.887 | +0.146% | $191K | $102K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.890 | +0.153% | $4K | $213K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.880 | +0.132% | $848 | $345K | 10x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.830 | +0.025% | $9K | $859 | 20x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 46.870 | +0.110% | $1.2M | $1.5M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.810 | −0.018% | $4K | $7K | 5x | as long as short |
| Paragon para:IRENlong | +0.0060% | 1h | 46.818 | long leg | $602K | $182K | 10x | |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.860 | +0.089% | $737K | $255K | 20x | as long as short |
| Lighter RH IREN | +0.0264% | 1h | 46.918 | +0.213% | $70K | $96K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0286% | 1h | 46.853 | +0.074% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IREN | +0.0341% | 1h | 46.865 | +0.100% | $82 | $31K | 10x | as long as short |
HTX IREN-USDT
QFEX IREN-USD
Extended IREN_24_5-USD
KuCoin IRENUSDTM
Lighter RH IREN
tradeXYZ xyz:IREN
Phoenix IREN